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Larimer assessments & charitable remainder trusts

3/30/2020

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Greetings folks! Hope your 2020 is filled with clarity so far. Three items worth briefly sharing today:

1. Larimer county assessments: You may have remembered from the last update the efforts the Assessors office was putting into keeping their methods fair. What impact did the largely higher assessments have? I was told by Larimer treasurer Irene Josey that the bump in assessments equaled a jump in Larimer county revenue to the tune of $24,000,000. 

2. Charitable remainder trusts: Any person or entity with a large taxable estate would be wise to consider this tool as it helps avoid capital gains taxes. It's far too complicated to summarize briefly, but in a nutshell trustees will turn their properties into charitable donations to a trust set up to deliver payouts over the course of a set number of years. The big benefit, alongside up to five years of charitable deductions, is a perfectly legal avoidance of capital gains. There are many charities that will of course take your donations, and it's largely win-win. Hit me up for more details. 

3. Senior tax exemptions: Are you over 65? Have you lived in your house for 10 years? You likely qualify. While it isn't a guarantee the exemption will be granted every year (legislation has to allow the funding on a yearly basis), it has been granted every year since 2012. Active military qualify for the same amount of exemptions (50% of the first 200k taxed).

Until next time, please let me know how I can help you or your family and friends in 2020! Cheers, Crip

Originally published 1/24/2020

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    Author

    Crip Erickson, Owner/Managing Broker
    ​of Erickson Realty LLC

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Copyright © 2020
  • Home
  • What's Your Home Worth?
    • Home Valuation
  • List With Us
    • 815 40th St
    • 195 Carina Cir #104
    • 713 Countryside
    • 1412 15th Ave
    • 6708 Rose Creek Way #4
    • 1775 Twin Lake Cir
    • 1110 Fairfield Dr
    • 5620 Fossil Creek #12-304
    • 2025 Buena Vista
    • 3781 Mount Ouray
    • 3405 W 16th #O-70
    • 531 Walden
    • 2263 Adobe
    • Sold Listings
  • For Buyers
    • Upgrowing into Investment Property
    • Brown Farm
    • Centerra
    • Cottonwood
    • Fossil Lake
    • Fox Creek
    • Golden Meadows
    • Glacier View
    • Miramont
    • Mountain Shadows, Greeley
    • Nelson Farm
    • Old Town Fort Collins
    • Paragon Point
    • Pelican Ridge
    • P.O.E.T
    • Quail Hollow
    • South College Heights
    • South Meadowlark Heights
    • Table Mesa, Boulder
    • Taft Canyon
    • Vista Bonita
    • Warren Lake
    • Woodwest
    • Open Houses
  • Property Search
    • Advanced Search
    • Search By Map
    • Basic Search
    • Search by MLS #s
    • Email Sign Up Custom Search
  • COVID-19 and Real Estate
  • Blog
  • About
  • Stats!
  • Careers
  • Privacy Policy